Personal Finance: Credit Reports and Scores

A record of the borrower’s past loan and credit‐related

transactions.

• Lender

• Credit History

• Credit Report

• Closed‐end Credit

A loan of a certain amount of money that a borrower

must repay in a specified number of equal payments.

• Lender

• Credit History

• Credit Report

• Closed‐end Credit

When goods, services, and/or money is received in

exchange for a promise to pay back a definite sum of money at a future date.

• Tax Lien

• Open‐end Credit

• Credit

• Closed‐end Credit

A person or organization who makes funds available to

borrow.

• Lender

• Credit History

• Credit Report

• Closed‐end Credit

A legal claim by a government entity to take an

individual’s property or income when their taxes are not paid in full.

• Tax Lien

• Open‐end Credit

• Credit

• Closed‐end Credit

Maintaining a reasonable amount of unused credit will create

• Negative Credit

• Positive credit

Routinely paying bills late will create

• Negative Credit

• Positive credit

Numerous credit applications in a short period of time will create

• Negative Credit

• Positive credit

Checking credit reports annually to search for mistakes will create

• Negative Credit

• Positive credit

Having many of the same types of credit accounts will create

• Negative Credit

• Positive credit